Blackstone Group LP Asks About Funds’ Gun Investments

By Jenny Strasburg and Miriam Gottfried

Investing giant Blackstone Group LP asked outside fund managers over the weekend to detail their ownership in companies that make or sell guns, requesting the information by Sunday night, according to people familiar with the matter.

The request, with a roughly one-day turnaround, was emailed to managers at about a dozen hedge funds in which Blackstone has a stake, one of the people said.

The email asked for information about “any ownership or lending” of or to “gun manufacturers or gun sellers,” according to people familiar with the request.

In the message, Blackstone executives apologized for the weekend intrusion, saying that Blackstone’s senior management wanted to know the information as soon as possible.

Blackstone has taken steps over the years to eliminate its exposure to guns across its various lines of business.

Corporations and investment firms have come under pressure since this month’s school shooting in Parkland, Fla., that left 17 people dead. Several companies, including insurance giants Chubb Ltd. and MetLife, and Delta Air Lines Inc. and United Airlines, have curtailed sponsorship and other partnership deals with the National Rifle Association.

Write to Jenny Strasburg at jenny.strasburg@wsj.com and Miriam Gottfried at Miriam.Gottfried@wsj.com

Breaking the story

Jenny Strasburg and Miriam Gottfried were first to report Blackstone Group LP emailed outside fund managers over the weekend asking about details of their investments in companies that make or sell guns, according to sources. Over the years the investing giant has taken steps to eliminate its exposure to guns across its various lines of business.

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